Women face unique challenges and opportunities when it comes to investing in the future. Whether you’re new to investing or close to reaching your goal, RBC Global Asset Management has resources to help you every step of the way.
Women are the new economic power in Canada. We’ve come a very long way. Yet, in reality, there are still many gender financial gaps that cost women time and money.
These gaps can add up to a very real gender wealth gap – and that can have a big effect on your financial future. Watch the video to learn more about the gender wealth gap and what it means for you.
Women often felt behind where they should be with regards to their retirement savings.1
These can be good years to:
- Gain experience and confidence around making financial decisions.
- Explore ways to save and invest – including workplace savings plans if you have one.
- Get an early start to enjoy the benefits of compounding.
Women are more likely than men to experience change that affects their finances.2
These can be good years to:
- Work with an advisor to create a financial plan that works for you. Consider your goals and how you feel about risk when you invest.
- Connect with your financial advisor regularly so that your plan reflects any big lifestyle changes.
Women tend to save less than men, yet live longer.3
These can be good years to:
- Boost your retirement savings as your income rises.
- Work with your advisor to prepare for your next chapter in life after you retire.
95% of women will be the family’s primary financial decision maker at some point in their lives.4
These can be good years to:
- Update your plan to switch from saving to spending your savings, while making your savings last.
- Prepare for the unexpected as you age – including changing medical costs or the loss of a partner.
- Plan when and how you want to pass on your wealth.
1. Bankrate, 26% of working women are leaving free money on the table that could set back their retirement , Alex Gailey | Bankrate 2024
2. Dunne, M. How can pension plan sponsors help women hit their retirement readiness stride?, September 2021
3. Boiman, T., Khawar, A. 5 things to know about women and retirement, August 2021
4. McKinney, Andrea, “Women and Their Role as Financial Decision Makers”, Central Trust Company, June 14, 2022.
The average hourly wage for women has increased by 20.5% in the last 20 years¹
Women influence up to 80% of the buying decisions worldwide²
Women make up over 40% of business owners3, up from just 4.6% in 19724
1. Stats Can (2018), The gender wage gap in Canada
2. Forbes (2019) 20 Facts and figures to know when marketing to women
3. What to become (2021) 19 Compelling women entrepreneurs statistics for 2021
4. American Express (2018) State of Women-Owned Business Report
5 simple principles in just 5 minutes to help you master the basics of investing:
- Principle 1: Get started
- Principle 2: Invest regularly
- Principle 3: Invest enough
- Principle 4: Have a plan
- Principle 5: Diversify
Learn strategies to help you gain a deeper understanding of the investing world
Learn about all phases of the retirement journey
Assess your financial wellness
Learn about investing in mutual funds
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